CSF Climbs After Loss Narrows -- Update

(Rewrites, adds detail.)

By Simon Zekaria

LONDON--Shares in CSF Group PLC (CSFG.LN) climbed in early trade after the provider of data-center facilities and services in Southeast Asia Friday expressed cautious optimism over its improving performance as it posted a narrowed full-year pre-tax loss.

The group recorded a pre-tax loss of 5.9 million pounds ($9.21 million) in the year ended March 31, compared with a loss of GBP23.7 million in the same period a year earlier. Last year's result was impacted by one-off items, including impairment charges for plant and equipment.

Revenue fell to GBP15 million from GBP18.9 million, impacted by lower sales from its design and development business.

"The board will continue to support the efforts of the management in implementing its stated business strategies which it believes will place the group on a solid foundation from which it can return to profitability in the near term," the company said in a statement.

"The board is cautiously optimistic that the group's financial results will improve in the current financial year," it added.

At 0733 GMT, shares rose 14% to 2 pence, valuing the company at GBP3 million.

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